By Andrea Heisinger
New York, Jan. 30 - ING Bank priced $6 billion notes (Aaa/AAA/AAA) in two tranches Friday that are backed by the Netherlands' government, an informed source said.
A $5 billion tranche of 2.625% notes due Feb. 9, 2012 priced at 99.702 to yield Treasuries plus 143.3 basis points.
A $1 billion tranche of floating-rate notes also due Feb. 9, 2012 priced at par to yield three-month Libor plus 100 bps.
Both tranches are non-callable and priced under Rule 144A.
Citigroup Inc., HSBC Securities and J.P. Morgan Securities Inc. ran the books.
The banking subsidiary of ING Groep NV is based in Amsterdam, the Netherlands.
| Issuer: | ING Bank
|
| Issue: | Notes backed by Netherlands' government
|
| Total amount: | $6 billion
|
| Bookrunners: | Citigroup Inc., HSBC Securities, J.P. Morgan Securities Inc.
|
| Distribution: | Rule 144A
|
| Trade date: | Jan. 30
|
| Settlement date: | Feb. 9
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Fixed-rate notes
|
| Amount: | $5 billion
|
| Issue: | Fixed-rate notes
|
| Maturity: | Feb. 9, 2012
|
| Coupon: | 2.625%
|
| Price: | 99.702
|
| Spread: | Treasuries plus 143.3 bps
|
| Call: | Non-callable
|
|
|
| Floating-rate notes
|
| Amount: | $1 billion
|
| Issue: | Floating-rate notes
|
| Maturity: | Feb. 9, 2012
|
| Coupon: | Three-month Libor plus 100 bps
|
| Price: | Par
|
| Spread: | Three-month Libor plus 100 bps
|
| Call: | Non-callable
|
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